With a successful beta launch in Kumasi and seeing over 400 drivers rushing to register within the first two weeks, and later witnessing a considerable increase in service providers (SPs or drivers), Farassi, an Accra and Edmonton-based service technology company, now boasts of over 700 SPs (drivers) in the Greater Kumasi area alone.
Farassi has introduced competitive fare which many drivers are embracing as it comes with No Commission on trips. Hence, allowing the SP or driver to receive all the money paid by the rider. Farassi by far is putting more money into the pockets of drivers than any rideshare company in the Kumasi greater area.
This makes Farassi, the go-to rideshare company for many and according to the Project Coordinator Jemaine Sakyi. Farassi is becoming the most attractive rideshare company in Kumasi in terms of cost to riders and more earnings for drivers. The tech company charges only a small, fixed fee for using the system.
The Farassi rideshare app gives riders also the ability to have a say in how much they pay for any trip, thereby saving money into their pockets. The Farassi apps have a bargain feature which has become the most popular, sought after feature among its riders.
The bargain feature in the app makes use of a-centuries-old African market transaction method, which allows SPs and riders/users to haggle price/fare for the transportation of persons and/or goods from one destination to another in a safe and secure way.
In contrast to other ride hailing companies, the Farassi app uses a complex algorithm to calculate a starting fare which initiates a bargain process between the rider/user (a person requesting for a ride or delivery) and an SP (driver). The negotiating process lasts only a few seconds during which the rider gets paired with an SP.
With rising urbanization and increasing growth in the younger population, coupled with investments from major corporations and key automobile manufacturers in ride hailing services in Africa, Statista estimates a projected revenue of US$3.49 billion in 2021 with an expected annual growth rate (CAGR 2021-2025) of 12.72%.
This, they predict, will result in a projected market volume of US5.64 billion by 2025 in Africa.
“The market is still ripe and there is a lot for everyone,” says Benjy Acquah, a cofounder of Farassi. He notes that with the surging number of internet and smartphone users in Africa, rideshare user penetration which is 4.2% in 2021, is expected to grow to 4.4% by 2025 (Statista). This implies that the industry, though currently in its infancy stage, exhibits the potential for rapid growth, adds Benjy Acquah.
Farassi, which is rocking neck to neck with Uber and Bolt riders is seeking funding from investors to stay competitive. This has become imperative as the company takes steps to expand its operations into the food delivery markets with the launch of FarassiChops in the coming months in the country. To find out more about Farassi, visit https://farassi.com
Joining the Farassi Rider/Service Provider community is easy.
Download the Farassi (Rider App) or the Farassi Provider (SP or Driver App) from Google Play Store or Apple Store and signup to join the Farassi Magic.
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Source: Ghana Web